McMURRAY, Chief Judge.
Plaintiff, Shearson/American Express, Incorporated, f/k/a Shearson Loeb Rhoades, Incorporated, a brokerage firm, filed this action against defendant to recover an alleged deficit in defendant's commodities trading account. Defendant Hardy filed his answer and counterclaim, alleging breach of contract, fraud, negligence and the "churning" of defendant's account by plaintiff.
Defendant originally opened an account in late 1979 as a client...
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